Plain vanilla swap

[passcfaforsure]

For plain vanilla swap, fixed payment have to disount back every point in the future but the Floating payment only discount only one point, why?
what is the rationale of this. pleasse add comments.
thanks

 

[Thecodont]

Well, you don’t know what the floating rate will be in the future. But more importantly; it does not matter because the floater resets to par each period.